Former U.S. Ambassador Nikki Haley criticized Congress on Monday, accusing lawmakers of ignoring the nation’s growing debt burden as the House and Senate prepared for their summer recess.
Haley Points to Rising Borrowing Costs
In a post on X, Haley said Washington was borrowing $60,000 every second while paying “$24 billion a week in interest alone.”
Haley criticized both chambers of Congress for taking their summer recess while the nation’s borrowing and debt-servicing costs continue to climb.
“Our national debt is spiraling while the House is on summer vacation and the Senate can’t wait to take their own,”
Washington is borrowing $60,000 a second and paying $24 BILLION a week in interest alone. Our national debt is spiraling while the House is on summer vacation and the Senate can’t wait to take their own.
— Nikki Haley (@NikkiHaley) July 27, 2026
Debt Nears $40 Trillion
The U.S. national debt currently stands at approximately $39.63 trillion, at the time of writing, surpassing the $39 trillion mark from earlier this year.
The U.S. federal debt-to-GDP ratio currently stands at 122.53%, according to the U.S. Debt Clock, crossing levels seen in the aftermath of World War II.
House Republicans Advance $95 Billion Spending Plan
House Republicans narrowly approved a budget measure last week that would allow the party to advance a $95 billion spending package through the Senate using the budget reconciliation process, bypassing the chamber’s 60-vote threshold.
If approved later this year, the package would direct about $60 billion to the Pentagon, adding to roughly $1 trillion already slated for military spending this year as the Trump administration continues its war with Iran.
Debt Concerns Extend Beyond Congress
Investor and “All-In Podcast” co-host Jason Calacanis last week said President Donald Trump had failed to deliver on his campaign promise to reduce the national debt, saying the president was on track to add more debt during his second term than during his first.
In June, billionaire investor Ray Dalio also warned that the U.S. was entering a “particularly risky period” as persistent budget deficits, rising borrowing costs, and weakening demand for government debt increase pressure on the country’s finances.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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